I can’t make sense of it. Why should the listing be explicitly mentionend in the factsheet?
Maybe there was no bid in USD at IPO time and hence there’s no shares in that shareclass to trade? Is a little odd, as one would think that the ETF could balance between shareclasses.
Unfortunately, I don’t know how this stuff really works for ETFs.
With a mutual fund, you would subscribe to that fund’s shareclass (i.e. you would buy x USD of that mutual fund), the fund would receive your USD money by some cut-off time after clearing and settlement (typically at least T+2), and would then invest your money in the fund for your share class ideally within the limits of the tracking error of the index your fund hugs (max y% deviation from said index over some time period).
Typically, the fund receives your USD money from the settlement intermediary early on the settlement day and a consolidated summary of all flows (summary of all the buys and sells into that fund) at around early afternoon.
The fund portfolio managers will then figure out what needs to be bought or sold overall and how that all needs to add up for all of the shareclasses of that fund. They then calculate orders for this to be satisfied and to be placed at market close (which might be different for funds that include securities traded on different exchanges).
When clients intend to subscribe in large size into such a fund they typically give a heads-up to the fund managers allowing the portfolio managers to optimize trading, using margin accounts and placing basket orders and what not.
For ETFs, this must all happen on a tighter timescale. Not sure how this works at all.
Actually no.
You trade an equity security on an exchange, where it has its own unique investment identifier, for equities typically the SEDOL (even if the ISIN is the same on a different exchange), and if you buy the security on exchange X, it is cleared and settled by that exchange (or an associated entity that does clearing and setting for that exchange) and is held by a custodian authorized to hold securities in said jurisdiction, where the actual security association (who owns it, in your name, or in your custodian’s name – where your custodian is supposed to track who of its customers owns the securities held in the custodian’s name) is tracked by a central now exclusively electronic database maintained by the exchange or an entity associated with the exchange.
If you trade the security on exchange Y, it is cleared and settled and yada yada ya by different entities.
There is no automated net clearing/netting for your trades at X and Y as there can be different prices, spreads or opening times between these exchanges.
If you buy two shares of Peugeot on the Paris stock exchange and sell one share in Frankfurt and one in London, you’re still long two shares of Peugeot in France and short one in Germany and short another one in GB.
You can place explicit orders to sell the Paris listed shared and buy one in Germany and London and you’re all set, but this doesn’t happen by itself.
For the typical retail investor, this all happens behind the curtains, and if you buy Z shares of Peugeot, your bank interface will suggest to you that you bought Z shares. They might have been bought at multiple exchanges and will typically appear as one position to you. And you can sell all Z shares in one order, and your bank interface will take care of doing the selling at the possibly different exchanges.
The fees your bank/broker/custodian charges will take care of all the additional costs behind the scenes that might occur.
Typically, for liquid and established securities, this isn’t much of a problem. For securities that are not traded a lot, or where larger spreads between exchanges might exist, or – perhaps – for ETFs with different share classes where some are “empty”, this might become an issue which might be the reason why you can’t seem to be able to buy USD WEBN.
I like your compliment, but this is a close-up shot:
Woof!
Er, I mean, no. 
You’re putting your finger on the exact spots I am not familiar with: ETFs with share classes. Don’t really know how they are listed, traded, convertible, what not.
But, to respond to your direct questions: no, I don’t think the SEDOL is interchangably related with the ISIN.
- WEBN
- SEDOL: BMDWYR1 DE
- ISIN: IE0003XJA0J9
- WEBQ
- SEDOL: BP6SP29 DE
- ISIN: IE0003XJA0J9
The ISIN is unambigously convertible to a number of SEDOLs directly associated with which exchanges said security is traded on.
Not vice versa, though. One ISIN might be traded on several different exchanges each with a different SEDOL.
The broker can definitely change an ETF position from one exchange to another, without any trades, as long as it’s the same ISIN, even if e.g. the trading currency differs. I.e., it’s not strictly necessary to sell an ETF share at the same exchange where you bought it.
However, I don’t know what exactly the broker has to do for this. I.e., whether this may involve a custodian change or whether the custodian is fixed by ISIN and it’s purely a broker-internal change. Swissquote offers this for CHF 50 per position (Börsenplatzwechsel). It may also be done as part of a position transfer, e.g., if the new broker doesn’t offer access to the same exchanges.
Had a quick question on IBKR:
My IBKR account is basis my Swiss account / tax number / identify documents. I have some funds in non EU bank account which I would like to transfer to IBKR. Would there be an issue if I were to transfer the funds directly from non EU to IBKR or should I first transfer to Swiss account and then IBKR? any experience regarding this? Thanks,
I see no reason why there would be any problem. Try to initiate the deposit in the respective currency and see what is going to happen.
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I contacted IBKR if they can add it.
According to Xetra is available and being traded: Amundi Prime All Country World UCITS ETF Acc ETF | ETF151 | IE0003XJA0J9 | Kurs
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Normally when you want to make a deposit at IBKR, you need to choose a payment method. Depending on your method, they would give you instructions
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I am hoping someone here has figured out a best solution
What is best way to move USD CASH from FIDELITY NETBENEFITS to IBKR account.
The challenge i see is that IBKR does not have account in my name, it just uses a reference number. Fidelity needs an account on name of person to make a transfer
So far, I have been using FIDELITY to UBS to IBKR. This costs 16 USD in total plus annual account costs of USD account at UBS. I would like to eliminate the UBS USD account but I cannot really find what are the better options?
FIDELITY to ALPIAN to IBKR also seems to be an option but I think Correspondent bank charges for SWIFT transfers (USA to CH and then from CH to IBKR) will be much higher for ALPIAN even if they claim to have ZERO fees for USD transfers in & out. Right?
Not sure about UBS costs but you can get PostFinance accounts in CHF, EUR, and USD ( 3 different IBANs ) in 5 CHF a month, so 60 CHF.
I transferred USD from PostFinance to IBKR - it costs 15 + 2.2 CHF
EDIT: not sure if using Wise or Revolut in the middle instead of Swiss bank reduces your costs the need to maintain Swiss USD account
Postbank solution is more or less same cost
I guess Wise vs Alpian should be similar costs , right? Because bank account is free in both. However the costs of transfers would be higher than UBS because UBS has a partner bank in US too.
Transfer costs are nearly same. But I expect annual costs of UBS accounts including USD account to be higher than what you need to pay for PostFinance per year ( total 60 CHf) .
On another note, YUH has no annual charges.
If you can’t save on transfer charges, maybe saving in annual charges is the way to go
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Try Wise
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I created an account on IB and followed the mustachian epic guide to buy VT. So I converted CHF to USD to buy VT. After the trade was done, I noticed that everything was first converted agian back to CHF and then back to USD. This seems very strange. Is there a setting that needs to be changed?
The converted cash wasn’t settled yet.
Which one is it? It might need to be updated because of how IB is now working with cash balance.
It could be the blog post wrote by MP
Thank you for your quick responses!
I used this guide: Chapter 6 — How to convert currencies on Interactive Brokers?
To be fair MP wrote: "In the end, what this means is that on average, you will have between a few hours and up to 2-3 days between the time you exchange your currencies, and the time you can use them to buy ETFs/shares/other securities.
In reality, when I convert my currencies from CHF to USD, I can directly buy my securities straight back most of the time. But if it’s not the case in your situation, at least you know why! 
"
I just saw USD on my account and assumed it was settled - my mistake and thanks again for the help.
Hi, as I’m still choosing my future broker, I wanted to have feedbacks regarding how easy and quick it is to transfer money from an IB account to a Swiss regular current account?
Thanks a lot in advance!